Tag: square mobile payments

Square to bring mobile payments to Japan

| May 28, 2013

Japanese consumers to have new option when it comes to mobile payments

Leading mobile payments firm Square has announced that its mobile commerce platform of the same name is now available in Japan. This represents the first time the company has expanded beyond the North American market. Asia has become one of the most attractive markets when it comes to mobile commerce due to the high level of penetration that mobile technology has been seeing over the years. Japan, in particular, has proven to be a hub of activity when it comes to mobile payments.

iPhone consumers may be welcoming of Square

The iPhone is one of the most popular mobile devices among Japanese consumers. This is somewhat ideal for Square as the company’s flagship mobile payments platform was designed for the iOS platform before also being made compatible with the Android platform. Square believes that it can find favor with a multitude of consumers that are eager to participate in mobile commerce without having to embrace NFC technology or purchase a new mobile device just to make mobile payments.

Japan Mobile PaymentsCompetition expected to be fierce

Square’s entry into the Japanese market is being considered very bold as the country is home to several mobile commerce initiatives that have already successfully enthralled many consumers. Square is expected to face staunch competition from NTT docomo and KDDI, two of the largest companies in the mobile commerce sector in Japan. PayPal has also established a strong foothold in Japan through its partnership with Softbank. Square believes that it will be able to win over consumers with its flare for design.

Future of mobile payments in Japan is uncertain for Square

Square has managed to establish a great deal of popularity in the mobile payments space. The company has helped expand mobile commerce throughout North America and has proven that it can compete with other companies that exist in this increasingly crowded field. The Asian market is quite different from that of North America, however, which makes Square’s future in Japan anything but certain.

Square reaches new heights with mobile payments

| May 23, 2013

Mobile payments company shows promising growth

Mobile payments have been gaining speed around the world, appealing most to an emerging generation of consumers that have become tethered to smartphones and tablets. Square has focused on making mobile payments as universal as possible, forgoing the use of NFC technology that has formed much of the backbone of the mobile commerce space over the past few years. The company has seen major progress in its efforts to establish itself as a leading mobile payments platform and has managed to reach a new milestone in the payments it processes.

Square traffics $15 billion in annual payments

Square has announced that it now processes more than $15 billion in mobile payments annually, which roughly calculates to $41 million in payment volume every day. As mobile commerce has become more popular among consumers, Square has managed to establish itself as one of the favored mobile payments platforms among businesses interested in engaging these consumers. Square receives a 2.75% fee on all mobile transactions, much of which is portioned out to the vSquare Mobile Paymentsarious financial firms, such as Visa and MasterCard, which support the payment platform. Even in dolling out payments to these firms, Square manages to keep an estimated $413 million in annual revenue.

Square Stand could be a boon for many companies

The announcement comes on the heels of the launch of Square Stand, a point-of-sale system that is designed to be used with an iPad. The Square Stand can process mobile payments, but also acts as a traditional payment terminal, accepting payments made through most major credit and debit cards. Square believes that its new point-of-sale system can be very beneficial for companies that are interested in engaging consumers in a new way.

Starbucks thrives through partnership with Square

Square’s announcement concerning its annual mobile payments transactions does not include its partnership with Starbucks. The two companies partnered this year in order for Starbucks to reach out to mobile consumers. Starbucks itself has seen impressive growth through its mobile commerce initiative and continues to put a great deal of focus on engaging consumers on this level.